Asian stocks are up after Cyprus agreed on a $13 billion bailout deal on Sunday night. The WSJ’s Ken Brown tells to Michael Arnold whether this will finally be the end of the Euro crisis.

This transcript has been automatically generated and may not be 100% accurate.

... the the ... she has reached levels or you'll avoid the banking meltdown ... of Michael Arnold for Asia Today joining me is on conquered chief Ken Brown ... can our markets reacted to this bailout ... good good so you know we haven't seen one of these ... tumultuous phase in the markets in a while but ... last week was pretty bad as ... this this deal Kinder on started and then unraveled in silk ... Asian markets are down two percent last week ... they made up of one tonight granted a and and everything is is looking pretty good ... so this euro crisis is like a bad guest a ticket to the front door comes back to the back door ... I will Markets of a short memory but is the appointed which bid to stop believing of whenever there's some ... some good news ... well I that's interesting so what we've seen in the last four or five months ... Bismarck is to believe that the crisis really was softer than either the crisis over there we're not can have these these dramatic showdown for us having every few months last year ... and this served for all that feeling back ... in choosing the Cypress's ... honey and one year to has a wee financial system it has a lot of foreign ... currency flows north of so ... it's it's un clear whether this is going to be calm our was something that repeated ... again again it or if this is just one a one off ... ASEAN as I understand it one of the issues was that the haircuts that of and are set to take on the holdings of Greek bonds last year ... was one of the issues of ended up sinking the Cyprus bank so ... are there elements of this bailout today which are to come back to haunt us down the road as well ... well you know it's impossible to know because there's so many moving parts but ... depositors have taken haircut ... it's a recipe for capital flight rights if your depositor into in a beaten up European economy ... see Spain see Italy whatever ... you think that these these guys are nowhere close to this point if you think that you might say to her current deposit and put new money out ... and that's a recipe for a bank run two bank failures and and things getting out of control smack the fee or a ... chew ... toy made it through the Greek crisis for now it seems that the Cyprus crisis and also for the fiscal cliff in the US what you see is the next big hurdle the markets need to be ... more devoted was aware of ... well the prom with Europe is ... nothing really has been resolved right so ... he still up economies that are in the know him deeper section ... you have financials financial systems that are better we still in Spain ... do you see this deal Trian bailout that these these Nationalizes government lenders that have been a disaster in the biggest one is Ikea ... um that's that's can be a problem for a long time ... in in really these economies to some stumbling along and that's the real problem and ... he never know how we know you're in ... twenty six unemployment in Spain ... he'll ... the second and third year of recession in some ways you never know how that's can manifest itself ... Arsenal for more on this issue ... to cut them is to dot com for Asia Today o Michael Arnold